Cinedigm Q2 revenue up 39% to $14M; streaming revenue up 78%; net loss widens to $5.8M

Cineverse Corp.

2023-Q2 EPS reported -$0.07 revenue$27,596,000

Total streaming revenue $8.0M (+78% YoY); ad-supported revenue up 102%, subscription revenue up 38%.
Consolidated revenue $14.0M (+38.6% YoY); net loss $5.8M ($0.03 loss per share) vs $0.3M loss prior year.
Adjusted EBITDA negative $1.3M vs positive $0.7M in prior year quarter due to legacy business decline and higher costs.
Paid subscribers reached 1.06M (+48% YoY); total streaming minutes 2.17B (+78%).
Company reiterates long-term targets: 50% annual streaming revenue growth, $150M revenue, 100M monthly viewers.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Cineverse Corp. reported the three months ended September 30, 2022 results: revenue $14.0 million, net income Net loss of $5.8 million, EPS $(0.03) per share.

Period: the three months ended September 30, 2022
Revenue: $14.0 million
Net income: Net loss of $5.8 million
EPS: $(0.03) per share
Result: reported results

Exact text from the filing

● Consolidated revenue was $14.0 million, up 38.6% compared to $10.1 million in the prior year quarter. ● Adjusted EBITDA was negative $1.3 million in the current year quarter, compared to positive Adjusted EBITDA of $0.7 million in the prior year quarter, due to a decrease in legacy Digital Cinema system sales and eligible VPF systems as that business winds down, as well as higher direct and SG&A costs immediately following Q1 acquisition activity. ● Net loss of $5.8 million, or $(0.03) per share, compared to net loss of $0.3 million or $0.00 per share in the prior year quarter.

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Source: SEC EDGAR

accession 0001213900-22-072472

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